EIB to invest in Meridiam Infrastructure Africa Fund

The European Investment Bank (EIB) is considering funding Meridiam Infrastructure Africa Fund.

The fund will finance infrastructure projects in the sectors of energy and power, transportation, environmental infrastructure, social infrastructure and telecommunications infrastructure in African countries. Specifically, the fund will be focused in the following sectors: health, solid waste, education, transport, energy, telecommunications, services and water - sewerage

The fund will make 8-10 investments predominantly in greenfield projects, but may also invest in selected secondary projects at the operational stage. The fund will generally seek to acquire significant minority or majority stakes of the junior/equity capital in each project with strong corporate governance rights to be able to monitor and manage project risks.

The fund's target size is €300 million (US$33.8 million). The EIB is considering funding about €30 million (US$338 million)

We have recently reported that the EIB was analyzing to invest DKK560 million (US$81.5 million) in Copenhagen Infrastructure II. The fund will invest in large energy-related projects. The fund targets mezzanine and equity-type investments primarily in greenfield energy-related projects with a focus on offshore wind, biomass, and electricity transmission, mainly in Northern and Western Europe.